AveCap Cuts Admin, Accounting Staff

Jul 27 2011 | 9:23am ET

Avenue Capital Group has trimmed some fat from its headcount.

The New York-based distressed debt specialist has cut less than 10 jobs from its administrative and accounting staff. According to HFMWeek, the layoffs came after performance reviews and impacted those who did not meet expectations.

The $13 billion hedge fund employs more than 300 people globally.

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